Vapi Enterprise Ltd. (VAPIENTER.BO) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-23.4%

₹97.68

vs ₹127.50 price

Levered DCF

₹28.77

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

—

Rating

—

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	13.74×	23.13×	28.85×	0.57×	85.71×	70.59×	42.67×	-800×
P/B	0.55×	0.85×	0.7×	0.65×	-4.35×	-4.14×	-3.91×	-3.58×
P/S	8.54×	0×	96.09×	24.99×	136×	1,348.09×	8.75×	10.39×
EV / EBITDA	-46.71×	17.6×	-6.68×	-0.22×	51.34×	52.59×	44.31×	132.98×
Gross margin	-0.1%	0.0%	98.3%	100.0%	100.0%	99.5%	24.8%	-12.4%
Operating margin	-10.9%	0.0%	-2.0%	5590.1%	237.0%	2223.7%	-4.6%	-33.4%
Net margin	62.1%	0.0%	332.7%	4392.0%	158.4%	1906.7%	20.5%	-1.3%
Current ratio	40.69×	58.44×	54.82×	3.57×	1.03×	4.25×	1.31×	1.56×
Debt / equity	0.01×	0.01×	0.01×	0.01×	-1.45×	-1.42×	-1.38×	-1.28×
Interest coverage	-1,345.15×	-3,527.29×	-74.58×	890,738.87×	22,851.74×	4,753.67×	-9.28×	-17.76×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	4.0%	3.7%	2.4%	115.0%	-5.1%	-5.9%	-9.2%	0.4%
Return on invested capital	-0.5%	-0.9%	-0.0%	113.2%	8.4%	9.7%	-4.0%	-24.0%
Return on assets	3.9%	3.6%	2.3%	82.8%	1.1%	9.0%	14.7%	-0.8%
Free cash flow yield	0.0%	-3.4%	36.9%	39.7%	-0.5%	2.1%	1.3%	-0.3%
Earnings yield	7.3%	4.3%	3.5%	175.7%	1.2%	1.4%	2.3%	-0.1%
Enterprise value	₹206.6M	₹309M	-₹83.3M	-₹106.4M	₹285.2M	₹287.9M	₹292.4M	₹296M
Net debt / EBITDA	-0.27×	0.27×	-25.96×	-0.66×	11.91×	12.58×	11.12×	34.58×
Cash conversion cycle (days)	0	0	119	-67,590	-191,714	-177,557	22	40